Friday, January 16, 2009

Bargains!

US electronics retailer Circuit City is to close after failing to reach a deal with its creditors and lenders, with the loss of 30,000 jobs.

Liquidators will now sell off the firm's assets. The announcement comes two months after the firm was forced to seek bankruptcy protection.

Some 567 Circuit City stores will now shut for the last time. About 155 stores had already closed in December.

Circuit City vice chairman James Marcum said the decision was "regrettable".

I'd love to see what Marcum and the rest of CC's management team managed to walk away with over the past 2 years. Hopefully the hourly employees will at least get first pick at discounted merchandise which they otherwise won't be able to afford, but maybe this is my chance for that 1080i flat screen.

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